Crypto
BTC Trader Closes $6.25M Short Ahead of Potential Market Crash
A BTC trader known as @Jason60704294 has closed a significant short position worth $6.25 million, as concerns about a potential market crash grow.
The trader closed the five times short position opened at $74,553.27 for 83.866 BTC, which is now offline.
Price action on the four-hour chart shows BTC trading at $75,945.36 within the Bollinger Bands with upper resistance at $76,339.75.
The Relative Strength Index (RSI) is at 93.47, indicating overbought conditions, while the MACD golden cross and EMA50 at $66,686.57 remain supportive, suggesting a probable retracement to that level before continuation.